The EUR/USD pair is posting marginal gains ahead of the US Session opening on Tuesday as the US Dollar retreats further with trade uncertainty growing. Meanwhile, a rather positive Lending survey from the European Central Bank (ECB), released earlier on the day, has provided additional support to the common currency. The Euro (EUR) has turned positive on the daily chart and returned above the 1.1700 level. The pair remains above Friday's high, at 1.1675, and also above the top of a bearish channel from July 1 highs, which suggests that further appreciation is likely. The ECB's survey...
Oil prices steadied in Asian trade on Wednesday after industry data showed a slightly smaller-than-expected build in U.S. inventories, although caution over trade tariffs and a Federal Reserve meeting persisted. Crude prices were nursing some losses this week as traders fretted over weak Chinese economic data, as well as concerns that U.S. President Donald Trump's plans for trade tariffs will stymie oil demand. Oil was also pressured by Trump planning for increased energy production in the U.S., while the President also called on the Organization of Petroleum Exporting Countries to...
The Australian Dollar (AUD) extends its losses for the third consecutive day against the US Dollar (USD), driven by lower-than-expected Consumer Price Index (CPI) data from Australia released on Wednesday. Australia's CPI rose by 0.2% quarter-on-quarter in the fourth quarter of 2024, matching the growth seen in the previous quarter but falling short of the market expectation of 0.3%. On an annual basis, CPI inflation eased to 2.4% in Q4 from 2.8% in Q3, also below the consensus forecast of 2.5%. Australia's Monthly CPI for December 2024 increased by 2.5% year-over-year, in line with...
Gold rebounds from lows, benefiting from safe-haven demand amid Trump's trade stance and US stock volatility.New Treasury Secretary Bessent proposes 2.5% starting tariffs; Trump seeks higher, escalating trade war fears.Markets cautious ahead of FOMC meeting; Fed likely to hold rates, monitoring trade policies and economic signals Gold prices bounced off after refreshing four-day lows and rose on Tuesday as United States (US) equities recovered following Monday's sell-off, while the precious metal benefited from safe-haven flows. Trade comments by US President Donald Trump keep investors...
Gold prices bounced off after refreshing four-day lows and rose on Tuesday as United States (US) equities recovered following Monday's sell-off, while the precious metal benefited from safe-haven flows. Trade comments by US President Donald Trump keep investors nervous, which turned to the yellow metal, as XAU/USD is seen changing hands at $2,763, up by 0.88% at the time of writing.Scott Bessent, appointed by Trump as US Treasury Secretary, was approved by the Senate. He said that he supports universal tariffs on imports, which would start at 2.5% and could be gradually increased. However,...
Oil prices edged down on Tuesday, extending the previous day's losses, as concerns over disruption to Libyan oil loadings eased.Fears of weaker demand linked to soft economic data from China and rising temperatures elsewhere also pressured prices.Brent crude oil futures were down 11 cents, or 0.14%, at $76.97 per barrel. U.S. West Texas Intermediate crude futures were down 9 cents, or 0.12%, at $73.08.Brent settled on Monday at its lowest since Jan. 9, while WTI hit its lowest since Jan. 2. In Libya, local protesters prevented crude oil loadings on Tuesday at Es Sider and Ras Lanuf ports,...
The USD/CHF pair rebounds strongly, slightly above the key hurdle of 0.9050 in Tuesday's North American trading hours after a two-week-long correction to near 0.8965. The Swiss Franc pair strengthens as the US Dollar (USD) resumes its upside journey in a jittery market environment. The US Dollar Index (DXY), which tracks the Greenback's value against six major currencies, soars to near 108.00. Investors rushed to the US Dollar as global technology stocks melted down on the assumption that Chinese DeepSeek's low-cost Artificial Intelligence (AI) model would reduce the technology gap between...
The Pound Sterling (GBP) faces pressure against its major peers in Tuesday's North American session. The British currency trades cautiously despite United Kingdom (UK) Prime Minister Keir Starmer's positive commentary on the economic outlook in an interview with Bloomberg on Tuesday. Starmer said that the number one priority of the Labour government is "growth" and the economy is starting to "turn around." On the outlook of trade relations with the United States (US), Starmer commented: "We've got a huge amount of trade between our two countries already and the base is there for even better...
The US Dollar Index (DXY), which measures the value of the US Dollar against a basket of currencies, extended its gains on Tuesday, consolidating above the psychological 108.00 level. Market sentiment soured after renewed concerns over tariffs and weak US economic data, including lower-than-expected Durable Goods Orders and declining Consumer Confidence. Despite these headwinds, the DXY managed to hold above its recent lows, signaling some resilience.Treasury Secretary Scott Bessent proposed incremental tariffs on all US imports, starting at 2.5%, triggering risk aversion in...
Gold (XAU/USD) is extending its decline on Wednesday for a second consecutive day as the US Dollar (USD) and US Treasury yields firm ahead of the release of the Federal Open Market Committee (FOMC)...
Oil extended declines after OPEC+ agreed to a bigger-than-expected production increase next month, raising concerns about oversupply just as US tariffs fan fears about the demand outlook.
Brent...
The Japanese Yen (JPY) weakened against its US counterpart and reversed part of Friday's recovery from the lowest level since July 23 following Bank of Japan (BOJ) Governor Kazuo Ueda's remarks....